Four months on from North America’s move to a shorter settlement cycle, market participants have used a combination of liquidity management, technology pivots and human resources to mitigate their exposure to higher FX costs.

With Swiggy and Hyundai Motor India filing for big-ticket IPOs, India’s primary capital markets are on a tear. This could be the best year for listings in its history. Can it continue? A useful parallel for global investors can be drawn with China 20 years ago, when the Asian superpower’s markets suddenly sparked into life.

Balancing growth and risk is a delicate task for banks. By understanding client needs and leverage their technology capabilities, banks can not only maintain this balance but also tap into new opportunities in emerging industries. The partnership between Deutsche Bank and Chinese fintech XTransfer, highlighted by their recent success in Thailand, serves as a prime example of how tailored solutions and innovative processes can drive growth and operational efficiency.

While treasurers see promise in regulatory changes such as ISO 20022 and the digital euro, concerns over compliance pressures and potential disruptions are mounting, according to the Corporate Treasurers on Key Trends in Cash Management report, published by Euromoney earlier this month.

As HSBC retrenches from domestic business on the continent, BNP Paribas steps up its ambition in Europe’s biggest economy – focusing largely on the family-owned Mittelstand.

IndusInd Bank’s commitment to sustainable development is underscored by compelling data reflecting its impact in 2023. Sustainable finance now constitutes approximately 46% of the bank’s total lending, up from 43% in 2022 and a significant rise from 33% in 2018. In 2023, the bank’s green and climate finance advances amounted to Rs78.8 billion ($944 million), representing 2.72% of its total loans.

Sir Patrick Sergeant, the charismatic founder of Euromoney and legendary lynchpin of financial journalism, passed away on September 18 aged 100.

If UniCredit is close to acquiring Commerzbank, it’s not just the result of a quick and crafty deal in the equities market. It comes after years of rebuilding the bank’s financial strength and reputation. Euromoney recalls how the Italian bank came back from the brink – ready to get into a position to buy Commerz.

The CE3 currencies have outperformed much of the emerging-market FX complex through recent carry unwinds – perhaps surprisingly, given the relative popularity of these currencies as receivers on account of high domestic policy rates.

SB Capital may not have the same branch network and balance sheet strength as some of its bigger peers in the Philippines, but its resourcefulness and creativity to do more with less means it still manages to grab leading roles on big ticket deals, as well as important but smaller deals – often with an ESG angle.

Itaú BBA takes the top Euromoney award for Brazil for its dominance across the bond, M&A and equity capital markets, and its versatility in deals.

Rand Merchant Bank (RMB) excelled in financial advisory, capital markets and strategic investments in the past year, making it a clear winner of this award.

The relationship Ho Chi Minh City Securities (HSC) has with large corporates and investors is impressive, often giving it a chance to have a first look at high-profile deals.

Arif Habib is a dominant force in Pakistan’s investment banking landscape, with a solid footing in debt and equity capital markets, as well as M&A advisory. While it excels across the board, it was its research franchise that impressed Euromoney the most during the awards period.

China International Capital Corporation (CICC) continues to remain a dominant force in China’s investment banking and brokerage market, helping clients access both the debt and equity capital markets and remaining the favoured adviser for M&A deals.

In a bid to find a niche for itself in Vietnam’s competitive securities industry, Techcom Securities has, since 2013, homed in on developing the country’s corporate bond market – a feat that makes it Euromoney’s best securities house for fixed income this year.

FAB takes the Euromoney award for best securities house in the UAE for its prowess across asset classes, and its commitment to environmental, social and governance deals.

A team of experienced capital markets and banking experts has ensured Shanta Equity, which kicked off its operations in January 2022, stays on top of its game in Bangladesh.

Kotak Mahindra Bank had an excellent year in equity capital markets. During Euromoney’s awards period of April 2023 to May 2024, Kotak ranked top of the ECM bookrunning league table for India, with credits for $5.4 billion in deal value from 53 deals, giving it a 10.76% market share and a clear lead over second place Citi with an 8.69% market share.

Indo Premier Sekuritas is somewhat unusual in Indonesia: it is one of the few local independent securities houses without government backing, without ties to a bank and without backing from a large conglomerate.

Galt & Taggart (G&T) stood out from the competition this year due to its product innovation and solid capital markets franchise during our awards period, making it Euromoney’s pick for best securities house in Georgia.

A seasoned and reputed team of research analysts has given BNI Sekuritas, part of Indonesian financial major BNI Group, a big edge over peers. The investment bank’s research team actively covers 13 different sectors and ensures it is providing up-to-date and relevant information to clients, be it institutions or retail investors.

Within a span of less than four years, UCB Investment (UCBIL) has accomplished a lot in Bangladesh, keeping rivals at arm’s length and winning Euromoney’s best securities house award in the country this year.

CaixaBI’s ESG commitment was front and centre in Portugal over the past year, with the ‘Best for ESG’ award winner spearheading 10 new ESG debt issues in 2023, including six green and four sustainability-linked bonds,.

Topline Securities, led by CEO Mohammed Sohail, added numerous feathers to its cap in the past year.

Chapel Hill Denham is named Nigeria’s best securities house this year, thanks to its stellar performance across securities trading and investment banking.

BAC Securities has been instrumental in facilitating multiple high-profile renewable energy projects across central and eastern Europe, reflecting a strategic emphasis on sustainable investments.

Carnegie performed strongly in a relatively quiet period for the Swedish equity capital markets.

During Euromoney’s review period, National Investments Company (NIC) stood out for its work in M&A and equity capital markets, winning Kuwait’s best securities house award.

BPI Capital’s product-agnostic nature meant that when the equity capital markets were quiet, the team was able to quickly boost its focus on debt capital markets and snag some important mandates. This was despite some large deals being cancelled due to choppy market conditions.